UPS is selling its freight-brokerage organization for less than it paid for the organization back in 2015
ATLANTA — United Parcel Service stated Sunday it concurred to sell its Coyote Logistics department to RXO for simply over $1 billion — less than it paid for the freight-brokerage business in 2015 — to focus more on its core package-delivery company.
UPS stated it anticipates to close the sale by the year if regulators enable the offer. Atlanta-based UPS stated it will upgrade its monetary outlook assoonas the sale is finished.
UPS CEO Carol Tome stated “the choice to sell our Coyote Logistics company permits an even higher focus on our core company.”
Freight brokers serve as intermediaries inbetween carriers and providers such as UPS.
RXO, a